Gate latest cryptocurrency market analysis (November 10): Bitcoin breaks 105,000, exiting the "extreme fear" zone

November 10 Cryptocurrency Market Analysis shows Bitcoin at a current price of $105,900. In altcoins, ING surged by 38.01% in a single day, leading the market. The Fear and Greed Index is at 29 points, indicating “fear,” and market sentiment remains cautious. On the technical side, key support levels are at $101,400 for BTC and $3,358 for ETH.

Bitcoin Stabilizes Above $105,000, Institutional Holdings Hit Record Highs

(Source: Gate)

Bitcoin is currently priced at $105,900, with a 24-hour increase of 1.07%, showing consolidation. The $110,000 level remains a critical psychological barrier, with the market actively trading around this zone. From a market analysis perspective, this consolidation is not a sign of weakness but a healthy digestion of profits at high levels.

Institutional bullishness continues to be the most significant fundamental support. The number of publicly traded companies holding over 1 million BTC has surpassed this milestone, reflecting growing confidence among corporate investors in Bitcoin as a treasury reserve asset. These 1 million BTC represent approximately 4.76% of the total supply. At current prices, this equates to a market value exceeding $105.9 billion. Such institutional holdings provide strong price support at the bottom.

24-hour trading volume exceeds 105,000 BTC, indicating good liquidity. This level of volume suggests market depth is sufficient, and large buy/sell orders are unlikely to cause drastic price swings. The key support level is at $101,400, which has been tested multiple times over the past week, forming an important technical bottom. The key resistance is at $106,700; breaking through this level could open the way toward $110,000.

From a technical perspective, Bitcoin is forming an ascending triangle pattern. The lows are gradually rising, while highs are consolidating around $110,000. This pattern typically indicates a higher probability of an upward breakout. However, the Fear and Greed Index at 29 points remains in the “fear” zone, reflecting cautious market sentiment, and short-term corrections are still possible. Investors should consider building positions in tranches near $101,400, set stop-losses at ±5%, and wait for confirmation of a breakout above $106,700.

Ethereum Trading Volume Surpasses Bitcoin, Ecosystem Activity Explodes

Ethereum is currently priced at $3,632, up 1.36% over 24 hours, outperforming Bitcoin. More importantly, Ethereum’s spot trading volume has for the first time surpassed Bitcoin’s, a highly symbolic event in crypto market analysis. The 24-hour volume is 163,000 ETH, with sufficient market depth, indicating Ethereum is attracting increasing active traders.

What does surpassing Bitcoin’s trading volume imply? It usually signals heightened ecosystem activity and capital rotation. When Ethereum’s trading volume increases, it often coincides with increased activity in DeFi, NFTs, and other on-chain applications. This ecosystem prosperity provides a more solid value foundation beyond mere speculation.

However, Ethereum continues to oscillate around $4,300, with increased short-term volatility. This price zone is a key resistance from last year’s bull market and the cost basis for many early investors. To break through this resistance, stronger catalysts are needed, such as further capital inflows into Ethereum ETFs or major protocol upgrades.

The key support level is at $3,358, the 38.2% Fibonacci retracement, which has been a significant support zone over the past two weeks. The key resistance is at $3,658; surpassing this level could pave the way toward the psychological $4,000 mark. Investors are advised to build positions in tranches near $3,358, set stop-losses at ±7% (due to Ethereum’s higher volatility compared to Bitcoin), and target $3,658.

Altcoins Explode: ING Leads with 38% Surge, Risks and Opportunities Coexist

ING surged by 38.01% in 24 hours, with a trading volume approaching 3 billion tokens, making it the biggest highlight of today’s crypto market analysis. Such explosive growth is often accompanied by extreme volatility and speculative activity. ING’s rally may be driven by social hype, major announcements, or technical breakthroughs, but investors should be cautious, as coins with daily gains over 30% often experience sharp pullbacks within 24 to 48 hours.

GROW increased by 33.7% in 24 hours, reflecting active community engagement. As a synthetic biology concept token, GROW has innovative value but also faces challenges related to technological implementation and real-world application validation. Such concept projects are suitable for small positions; avoid heavy accumulation chasing the high.

NEAR5S rose by 27.84% in 24 hours, with highly volatile movements. It’s important to note that tokens with “5S” or “3L” suffixes are typically leveraged tokens, amplifying price movements by 3 to 5 times. The leverage nature of NEAR5S makes it extremely risky and suitable only for experienced traders under strict risk controls.

Three Principles for Altcoin Investment

Small Position Testing: Do not allocate more than 5% of total assets to a single altcoin.

Quick Take Profits: Take profit on 50% of the position within 24 hours after a surge.

Strict Stop-Loss: Set a hard stop-loss at -15%, avoiding hope-based hold strategies.

Liquidity Health and Technical Indicators Combined Analysis

Regarding liquidity health, BTC’s 24-hour volume exceeds 105,000 BTC, ETH’s is 163,000 ETH, indicating active trading and moderate arbitrage space. This level of liquidity suggests a healthy market, neither overly euphoric (which would show extremely high volume) nor illiquid (with volume dropping below 50% of average).

The Fear and Greed Index at 29 points indicates “fear,” a key sentiment indicator in crypto analysis. Historically, when the index drops below 30, it often signals a good long-term buying opportunity, as excessive pessimism can lead to undervaluation. However, in the short term, market sentiment remains cautious, and corrections are possible, so investors should prepare accordingly.

Technical indicators show that both Bitcoin and Ethereum’s RSI are between 45 and 55, indicating neutrality. MACD oscillates near the zero line, reflecting balanced buying and selling forces. The 50-day EMA and 200-day EMA remain in a bullish alignment, supporting a “sideways upward” trend, but short-term profit-taking may still occur.

Investment Strategies and Risk Management Framework

For short-term trading, entry points around BTC $101,400 and ETH $3,358 are recommended, as these support zones have been tested multiple times and offer favorable risk-reward ratios. Set stop-losses at ±5% for BTC targeting $106,700, and ±7% for ETH targeting $3,658.

Portfolio allocation should follow “BTC 50%, ETH 30%, other altcoins 20%,” balancing stability (BTC as a safe haven), growth potential (ETH’s ecosystem), and flexibility (smaller altcoins’ higher returns). The risk level is moderate; consider staggered entries to avoid full exposure at once.

For medium-term positioning, maintain a cautious optimistic outlook, expecting sideways upward movement. Adjust allocations to BTC 60% and ETH 40%, reducing altcoin holdings to lower overall volatility. Key factors include SEC regulatory developments, institutional investment flows (especially Bitcoin ETF), and macroeconomic data like US CPI and Federal Reserve rate decisions.

Risk Identification and Mitigation

Systemic Risks: Macroeconomic uncertainties could trigger a broad correction; maintain 20% cash reserves.

Regulatory Risks: Increased SEC regulation may dampen market sentiment; closely monitor policy updates.

Liquidity Risks: Rapid shifts in sentiment could lead to liquidity drying up; implement hard stop-losses.

Single-Asset Risks: Regulatory changes affecting altcoins; strictly control individual coin exposure.

Market outlook suggests a 60% probability of sideways upward movement and a 40% chance of correction. Catalysts include institutional investment trends (notably holdings by Strategy, Tesla, etc.) and regulatory developments (SEC approval progress for Ethereum ETFs). The current pattern is expected to persist over the next 1 to 3 months, with patience for a decisive breakout.